US regional banks with Florida operations brace for hurricane fallout [Yahoo! Finance Canada]
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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valleynationalbank.com
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Source: Yahoo! Finance Canada
(Reuters) - Several regional lenders allocated loan-loss provisions in the third quarter to cover potential defaults by borrowers grappling with recent hurricanes, primarily in Florida, highlighting the risks extreme weather and climate change pose to banks. Two devastating hurricanes struck the Sunshine State in late September and early October, causing loss of life, damaging homes, public property, and power lines, and impacting millions living along the coastline. The financial sector is also feeling the impact, with regional lenders like Valley National Bancorp taking steps to mitigate potential losses. The bank, which has around $62 billion in assets and operates 230 branches nationwide, with 40 of them in Florida, set aside $8 million in reserves to mitigate Hurricane Helene's impact. "While not anticipated based on information currently available, Hurricane Milton and unexpected losses from Hurricane Helene could result in a significant increase to the current hurrican
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VLY
News
- Valley National Bancorp (NASDAQ: VLY) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Valley National Bancorp (NASDAQ: VLY) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating. They now have a $11.00 price target on the stock, up previously from $10.50.MarketBeat
- Valley National Bancorp Announces Pricing of Common Stock OfferingGlobeNewswire
- Valley National Bancorp Announces Proposed Common Stock OfferingGlobeNewswire
- Valley National Bancorp (NASDAQ: VLY) was upgraded by analysts at Barclays PLC from an "underweight" rating to an "equal weight" rating. They now have a $10.00 price target on the stock, up previously from $9.00.MarketBeat
VLY
Earnings
- 10/24/24 - In-Line
VLY
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/12/24 - Form 424B5
- VLY's page on the SEC website